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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 58,142 $ 114,573
Restricted cash 5,643 5,643
Due from charterers, net of a reserve of $2,141 and $1,403, respectively 25,333 20,116
Prepaid expenses and other current assets 8,399 9,935
Inventories 21,601 24,563
Fair value of derivative instruments 6,312  
Total current assets 125,430 174,830
Noncurrent assets:    
Vessels, net of accumulated depreciation of $303,098 and $253,005, respectively 1,002,810 981,141
Deposits on vessels   18,543
Deferred drydock, net of accumulated amortization of $15,456 and $12,879 respectively 32,254 14,275
Fixed assets, net of accumulated depreciation and amortization of $6,254 and $3,984, respectively 8,556 7,237
Operating lease right-of-use assets 4,078 5,495
Restricted cash 315 315
Fair value of derivative instruments 423 1,166
Total noncurrent assets 1,048,436 1,028,172
Total assets 1,173,866 1,203,002
Current liabilities:    
Accounts payable and accrued expenses 29,475 29,956
Deferred revenue 4,958 10,081
Current operating lease liabilities 2,107 1,858
Total current liabilities: 36,540 41,895
Noncurrent liabilities:    
Long-term operating lease liabilities 4,096 6,203
Long-term debt, net of deferred financing costs of $6,079 and $7,771, respectively 164,921 238,229
Total noncurrent liabilities 169,017 244,432
Total liabilities 205,557 286,327
Commitments and contingencies (Note 15)
Equity:    
Common stock, par value $0.01; 500,000,000 shares authorized; 42,327,181 and 41,924,597 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively 423 419
Additional paid-in capital 1,588,777 1,702,166
Accumulated other comprehensive income 6,480 825
Accumulated deficit (628,247) (786,823)
Total Genco Shipping & Trading Limited shareholders' equity 967,433 916,587
Noncontrolling interest 876 88
Total equity 968,309 916,675
Total liabilities and equity $ 1,173,866 $ 1,203,002